IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Wither The Economics of Agricultural Development?

  • James Roumasset

    ()

    (Department of Economics, University of Hawaii at Manoa)

In spite of healthy demand for a renaissance in economic policy for agricultural development, the academic supply response is found wanting. The infusion of public economics into the economics of agricultural development, which thrived during the 1970s and 80s, has stagnated due to the lack of foundations in transaction costs, dynamics, and the co-evolution of specialization and governance. Many of the policy ideas found in the World Bank’s, WDR 08, for example, reflect a post-modern tendency to seek and destroy market failures with new mandates and subsidies for farmer cooperatives, microfinance, crop insurance, and land reform. The new development microeconomics favors form over substance and overemphasizes multiple equilibria, trap theories, new market failures, and the new case for social insurance. Empirical research has likewise suffered from the quest for clever instruments and methods instead of informative results that estimate parameters of established theories, distinguish between competing theories, or challenge theory to explain empirical patterns. These latest fads and fancies have distracted economists from the quest for fundamental explanations of development patterns, especially the nature and causes of specialization as an engine of growth. The stage is set for young dynamic scholars to develop new tools of analysis to explain empirical patterns in behavior and organization in developing agriculture and to build the foundations of a public microeconomics of development.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.economics.hawaii.edu/research/workingpapers/WP_10-3.pdf
File Function: First version, 2010
Download Restriction: no

Paper provided by University of Hawaii at Manoa, Department of Economics in its series Working Papers with number 201003.

as
in new window

Length: 24 pages
Date of creation: 04 Mar 2010
Date of revision:
Handle: RePEc:hai:wpaper:201003
Contact details of provider: Postal: 2424 Maile Way, Honolulu, HI 96822
Phone: (808)956-8730
Fax: (808)956-4347
Web page: http://www.economics.hawaii.edu/
Email:


More information through EDIRC

Order Information: Web: http://www.economics.hawaii.edu/research/working.html Email:


References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Bardhan, Pranab & Udry, Christopher, 1999. "Development Microeconomics," OUP Catalogue, Oxford University Press, number 9780198773719, March.
  2. Robert E. Lucas, 2009. "Ideas and Growth," Economica, London School of Economics and Political Science, vol. 76(301), pages 1-19, 02.
  3. Demsetz, Harold, 1969. "Information and Efficiency: Another Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 1-22, April.
  4. Banerjee, Abhijit & Bardhan, Pranab & Basu, Kaushik, 2005. "New Directions in Development Economics: Theory or Empirics? A Symposium in Economic and Political Weekly," Working Papers 127128, Cornell University, Department of Applied Economics and Management.
  5. William E. James & James A. Roumasset, 1979. "Explaining Variations In Share Contracts: Land Quality, Population Pressure And Technological Change," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 23(2), pages 116-127, 08.
  6. Dixit, Avinash & Olson, Mancur, 2000. "Does voluntary participation undermine the Coase Theorem?," Journal of Public Economics, Elsevier, vol. 76(3), pages 309-335, June.
  7. Raj Chetty & Adam Looney, 2005. "Consumption Smoothing and the Welfare Consequences of Social Insurance in Developing Economies," NBER Working Papers 11709, National Bureau of Economic Research, Inc.
  8. Assunção, Juliano & Braido, Luis H.B., 2007. "AJAE Appendix: Testing Household-Specific Explanations for the Inverse Productivity Relationship," American Journal of Agricultural Economics Appendices, Agricultural and Applied Economics Association, vol. 89(4), November.
  9. Fafchamps, Marcel & Udry, Christopher & Czukas, Katherine, 1998. "Drought and saving in West Africa: are livestock a buffer stock?," Journal of Development Economics, Elsevier, vol. 55(2), pages 273-305, April.
  10. Matthew Rabin, 2001. "Diminishing Marginal Utility of Wealth Cannot Explain Risk Aversion," Game Theory and Information 0012002, EconWPA.
  11. James A. Roumasset, 1993. "The Nature of the Agricultural Firm," Working Papers 199317, University of Hawaii at Manoa, Department of Economics.
  12. Heath, John & Binswanger, Hans, 1996. "Natural resource degradation effects of poverty and population growth are largely policy-induced: the case of Colombia," Environment and Development Economics, Cambridge University Press, vol. 1(01), pages 65-84, February.
  13. Shahid Yusuf & Angus Deaton & Kemal Dervis & William Easterly & Takatoshi Ito & Joseph E. Stiglitz, 2009. "Development Economics through the Decades," World Bank Publications, The World Bank, number 2586, September.
  14. Kaplow, Louis & Shavell, Steven, 1994. "Why the Legal System Is Less Efficient Than the Income Tax in Redistributing Income," The Journal of Legal Studies, University of Chicago Press, vol. 23(2), pages 667-81, June.
  15. repec:cup:cbooks:9780521326162 is not listed on IDEAS
  16. Chambers, Robert G & Quiggin, John, 2006. "Dual approaches to the analysis of risk aversion," Risk and Sustainable Management Group Working Papers 151175, University of Queensland, School of Economics.
  17. Matthew Rabin & Richard H. Thaler, 2001. "Anomalies: Risk Aversion," Journal of Economic Perspectives, American Economic Association, vol. 15(1), pages 219-232, Winter.
  18. Ruttan, Vernon W, 1997. "Induced Innovation, Evolutionary Theory and Path Dependence:," Economic Journal, Royal Economic Society, vol. 107(444), pages 1520-29, September.
  19. Riethmuller, Paul & Roe, Terry, 1986. "Government intervention in commodity markets: The case of Japanese rice and wheat policy," Journal of Policy Modeling, Elsevier, vol. 8(3), pages 327-349.
  20. Clarete, Ramon L & Roumasset, James A, 1990. "The Relative Welfare Cost of Industrial and Agricultural Policy Distortions: A Philippine Illustration," Oxford Economic Papers, Oxford University Press, vol. 42(2), pages 462-72, April.
  21. Joseph E. Stiglitz, 1973. "Incentives and Risk-Sharing in Sharecropping," Cowles Foundation Discussion Papers 353, Cowles Foundation for Research in Economics, Yale University.
  22. Fafchamps, Marcel & Pender, John, 1997. "Precautionary Saving, Credit Constraints, and Irreversible Investment: Theory and Evidence from Semiarid India," Journal of Business & Economic Statistics, American Statistical Association, vol. 15(2), pages 180-94, April.
  23. Roumasset, James & Setboonsarng, Suthad, 1988. "Second-best agricultural policy : Getting the price of Thai rice right," Journal of Development Economics, Elsevier, vol. 28(3), pages 323-340, May.
  24. Corden, W. M., 1971. "The substitution problem in the theory of effective protection," Journal of International Economics, Elsevier, vol. 1(1), pages 37-57, February.
  25. Daron Acemoglu, 2005. "Constitutions, Politics and Economics: A Review Essay on Persson and Tabellini's "The Economic Effect of Constitutions"," NBER Working Papers 11235, National Bureau of Economic Research, Inc.
  26. Greenwald, Bruce C & Stiglitz, Joseph E, 1990. "Asymmetric Information and the New Theory of the Firm: Financial Constraints and Risk Behavior," American Economic Review, American Economic Association, vol. 80(2), pages 160-65, May.
  27. James Roumasset, 1979. "Sharecropping, Production Externalities and the Theory of Contracts," UP School of Economics Discussion Papers 197906, University of the Philippines School of Economics.
  28. Stiglitz, Joseph E, 1974. "Alternative Theories of Wage Determination and Unemployment in LDC'S: The Labor Turnover Model," The Quarterly Journal of Economics, MIT Press, vol. 88(2), pages 194-227, May.
  29. Roumasset, James, 1985. "Agricultural development in the third world : Carl Eicher and John Staatz, eds., (Johns Hopkins University Press, Maryland, USA) pp. 491," Journal of Development Economics, Elsevier, vol. 19(1-2), pages 201-210.
  30. Otsuka, Keijiro, 2007. "Efficiency and Equity Effects of Land Markets," Handbook of Agricultural Economics, Elsevier.
  31. Deininger, Klaus, 1999. "Making Negotiated Land Reform Work: Initial Experience from Colombia, Brazil and South Africa," World Development, Elsevier, vol. 27(4), pages 651-672, April.
  32. Oliver Hart & John Moore, 1988. "Property Rights and the Nature of the Firm," Working papers 495, Massachusetts Institute of Technology (MIT), Department of Economics.
  33. Squire, Lyn, 1989. "Project evaluation in theory and practice," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 2, chapter 21, pages 1093-1137 Elsevier.
  34. Dani Rodrik, 2007. "Introductiion to One Economics, Many Recipes: Globalization, Institutions, and Economic Growth
    [One Economics, Many Recipes: Globalization, Institutions, and Economic Growth]
    ," Introductory Chapters, Princeton University Press.
  35. Musgrave, Richard A, 1969. "Cost-Benefit Analysis and the Theory of Public Finance," Journal of Economic Literature, American Economic Association, vol. 7(3), pages 797-806, September.
  36. Timothy Besley, 2007. "The New Political Economy," Economic Journal, Royal Economic Society, vol. 117(524), pages F570-F587, November.
  37. Juliano J. Assun��o & Luis H. B. Braido, 2007. "Testing Household-Specific Explanations for the Inverse Productivity Relationship," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(4), pages 980-990.
  38. repec:phd:pjdevt:jpd_1986_vol._xiii_nos._1&2-g is not listed on IDEAS
  39. Clarete, Ramon L. & Roumasset, James A., 1987. "A Shoven-Whalley model of a small open economy : An illustration with Philippine tariffs," Journal of Public Economics, Elsevier, vol. 32(2), pages 247-261, March.
  40. Arnott, Richard J & Stiglitz, Joseph E, 1985. "Labor Turnover, Wage Structures, and Moral Hazard: The Inefficiency of Competitive Markets," Journal of Labor Economics, University of Chicago Press, vol. 3(4), pages 434-62, October.
  41. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
  42. Gardner, Bruce L, 1987. "Causes of U.S. Farm Commodity Programs," Journal of Political Economy, University of Chicago Press, vol. 95(2), pages 290-310, April.
  43. Roumasset, James & Lee, Sang-Hyop, 2007. "Labor: Decisions, Contracts and Organization," Handbook of Agricultural Economics, Elsevier.
  44. Sah, Raaj Kumar, 1986. "Size, Supervision and Patterns of Labor Transactions," Philippine Journal of Development JPD 1986 Vol. XIII Nos. 1, Philippine Institute for Development Studies.
  45. Roumasset, James, 1978. "The new institutional economics and agricultural organization," MPRA Paper 13175, University Library of Munich, Germany.
  46. Assuncao, Juliano J. & Ghatak, Maitreesh, 2003. "Can unobserved heterogeneity in farmer ability explain the inverse relationship between farm size and productivity," Economics Letters, Elsevier, vol. 80(2), pages 189-194, August.
  47. Deininger, Klaus, 1999. "Making negotiated land reform work : initial experience from Brazil, Colombia, and South Africa," Policy Research Working Paper Series 2040, The World Bank.
  48. Williamson, Oliver E, 1979. "Transaction-Cost Economics: The Governance of Contractural Relations," Journal of Law and Economics, University of Chicago Press, vol. 22(2), pages 233-61, October.
  49. James A Roumasset, 2000. "Black-Hole Security," Working Papers 200005, University of Hawaii at Manoa, Department of Economics.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:hai:wpaper:201003. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Web Technician)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.